Palmer Square liquidates 2022 CLO through BWIC
Palmer Square is the seller of a mammoth EUR 350m loan and bond BWIC portfolio that was auctioned last Thursday (4 January) as it has been winding down Palmer Square European Loan Funding 2022-3

CIFC launches new multi-strategy credit UCITS fund
New York-based alternative asset manager CIFC has launched a new liquid UCITS strategy with an emphasis on sub-investment grade fixed income investments

Full-year 2023 European Leveraged Highlights
Debtwire has released the full-year 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets

End on a high: institutional loan and HY bond issuance rises 44% YoY
Leveraged finance (LevFin) issuance across the US institutional loan and high-yield (HY) bond markets totalled USD 529bn in 2023, representing a 44% year-on-year (YoY) increase

Low margins and scarcity of LBOs hurt term loan revenues
Despite a resurgence in global term loan B (TLB) volume, which grew by 30% to reach $416.6bn as of December 2023, revenue earned by arranging banks on these facilities only totalled $3.0bn

2023: a bumper year for CLO funds
It looks like 2023 will finish as a solid year for most credit funds, and an outstanding one for CLO funds. But funds pursuing corporate distressed strategies continued to struggle

Credit hedge funds
Credit hedge fund performance

Credit funds at a glance
Credit funds at a glance

November 2023 US Leveraged Highlights
Debtwire today releases the November 2023 US Leveraged Highlights, featuring key trends in the leveraged loan and high-yield bond markets

November 2023 European Leveraged Highlights
Debtwire today releases the November 2023 European Leveraged Highlights, containing key trends in the leveraged loan and high-yield bond markets

Macquarie hires head of leveraged credit
Macquarie has poached the head of European and UK fixed income at Alliance Bernstein for a role in Philadelphia

Blackstone to close multi-strategy fund after assets fell nearly 90%
Blackstone plans to shut down its Blackstone Diversified Multi-strategy Fund by the end of the year after assets within the fund declined by nearly 90% in the last four years

DebtDynamics EMEA | Right on time
Leveraged loan borrowers favouring shorter tenors pile maturities for 2028

Manulife Investment agrees deal to buy CQS
Manulife Investment Management, the global wealth and asset management portion of Manulife Financial Corporation, has agreed to buy London-based alternative credit manager CQS, including the CQS credit platform and CQS brand

Credit hedge funds
Hedge fund performance tables

Credit funds at a glance
Fund performance; people hires; fundraising 

ESG initiatives should avoid unfavourable reactions by pursuing substance over form
By any financial measure, the collaboration of trans activist Dylan Mulvaney with Bud Light hurt the brand. What was formerly America’s best-selling beer saw its market share collapse — from over 35% in May 2023 to around 9% in June — because of a boycott by US conservatives after a 60-second TikTok video aired of Mulvaney drinking it.

M&G launches first European private credit fund
M&G Investments is the latest firm looking to individual investors as an avenue for fundraising with the launch of a new ELTIF, dubbed the M&G Corporate Credit Opportunities Fund

State of the US Loan Market 3Q23 - Xtract Special Report
The US leveraged loan market continued to languish in 3Q23, but the average covenant score for large Sponsor loans bounced back somewhat from its precipitous decline in 2Q23 according to this special report

Lumen Technologies ad-hoc group preps competing proposal
The refinancing of Lumen Technologies, currently held by 1311 different CLOs with a combined principal balance of USD 3.8bn, took a new twist today as details of a competing proposal emerged

Millennium Advisors reveals new global head of US credit trading
New head of US credit trading is the latest in a string of senior-level new hires at the firm.

Hayfin appoints new US CLO head
Hayfin Capital Management has announced it has recruited Peter Swanson to head its High-Yield and Syndicated Loans team in New York

Fortress taps BlackRock for sponsor coverage hire
Fortress Investment Group has hired a new director to focus on sponsor coverage and origination in in Fortress’ credit business

US CLO credit Air Methods Corporation files for bankruptcy
Air Methods Corporation, a widely held name in the US CLO market, filed for Chapter 11 this morning reporting USD 1bn to USD 10bn in liabilities.

DebtDynamics EMEA | Under pressure: likely-to-distress scores highlight struggling industries and regional woes
The European leveraged market has crossed the threshold of 100 companies at the stressed/distressed lifecycle stage, according to Debtwire data